The Ascott Limited signs seven properties in Europe

Austria/Spain: The Ascott Limited, the lodging business of CapitaLand Investment, has signed seven franchise and management agreements totalling nearly 1,100 units in Vienna and Seville.

Five of the properties, signed with property developer VIE Trust Real Estate Group, are lated in Vienna. It will add 750 units across various brands, including a second lyf-branded property opening by the end of 2026.

The two sites in Seville have been signed with real estate developer Forty Management SA. Properties include a 250-unit lyf and a 120-unit Somerset, both of which form part of the 12.5-hectare mixed-use mega project Lagoon City Seville. 

Expansion comes as Ascott opens the lyf Gambetta Paris with additional our lyf properties scheduled for 2026. 

Elsewhere in Europe, The Grand Hotel Leicester by The Unlimited Collection is expected to reopen before end of this year. 

Kevin Goh, chief executive officer of Ascott, said: “Europe is a cornerstone of Ascott’s global growth strategy, offering a resilient, high-yield market underpinned by strong tourism fundamentals and fragmented supply, where a significant portion of quality assets remain unbranded. 

“Our expansion in Vienna, entry into Seville and growing lyf and The Unlimited Collection presence in Europe reflect the increasing demand from property owners and investors for trusted operators with global scale, proven brand architecture and robust distribution capabilities. By deepening Ascott’s asset-light model in Europe through franchise and management agreements, we are scaling efficiently while building long-term brand equity across one of the world’s most attractive hospitality markets.”

Lee Ngor Houai, COO for Europe, Middle East, Africa, South Asia and China at Ascott, said: “The momentum across our European portfolio reflects a disciplined expansion strategy focused on destinations where quality accommodation meets authentic demand. From lyf’s experience-led social living spaces to The Unlimited Collection’s culturally rooted hotels and our established Citadines, Somerset and The Crest Collection brands, each has a clear identity yet remains adaptable across formats and traveller segments.

“Our multi-typology brand strategy enables us to deploy brands across diverse formats, from urban centres to resort destinations, expanding our reach while maintaining brand integrity. Whether in gateway cities or emerging leisure destinations, we remain committed to creating stay experiences that connect guests meaningfully to the places and communities they visit.”

The additions in Vienna and Seville expand Ascott’s European portfolio to 64 properties with nearly 8,500 units across 26 cities in 10 countries, including both operational and pipeline properties.

Highlights:

• Ascott has signed seven  franchise deals across Vienna and Seville, adding nearly 1,100 units.

• Five properties are with VIE Trust Real Estate Group, including a new lyf by 2026.

• Two sites are with Forty Management SA within the Lagoon City mega project.

• It brings Ascott’s European portfolio to 64 properties, 8,500 units across 10 countries.